Seeking Alpha author Kirk Spano joins Cheddar to discuss his view on the electric vehicle industry and how it relates to the demand for oil. He talks about fracking and the "peak" of the oil plateau. Spano suggests that fracking is done accelerating and will most likely only produce 10-11 million barrels a day moving forward. He believes the takeover of electric vehicles may not happen as soon as people expect. He doesn't see families giving up their cars and dropping everything to go electric. He predicts 1 billion EVs will hit the road by 2040. Additionally, Spano believes oil prices will rise a bit and worries that war may drive up the demand.

Share:
More In Technology
How the Barcode Made Our Modern Economy
Barcodes have radically changed the world, helping fuel the rise of everything from massive companies like Walmart to major world powers like China. And it all started with a man daydreaming on a beach in 1949.
Load More